Ingevity (NYSE:NGVT) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Ingevity (NYSE:NGVT) from a hold rating to a strong-buy rating in a research report report published on Saturday morning.

Several other research analysts have also recently commented on NGVT. Jefferies Financial Group reiterated a “buy” rating and issued a $82.00 price target on shares of Ingevity in a research note on Thursday, February 26th. Wells Fargo & Company boosted their price target on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Price Performance

Shares of NYSE NGVT opened at $75.73 on Friday. Ingevity has a 1-year low of $39.74 and a 1-year high of $79.29. The business has a 50-day moving average of $71.20 and a 200-day moving average of $64.15. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.79. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -21.33 and a beta of 1.24.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.31. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The company had revenue of $258.00 million during the quarter, compared to the consensus estimate of $254.73 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. On average, equities analysts anticipate that Ingevity will post 5.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in Ingevity during the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. acquired a new stake in Ingevity during the third quarter valued at approximately $28,000. Meeder Asset Management Inc. acquired a new stake in Ingevity during the fourth quarter valued at approximately $33,000. Kestra Advisory Services LLC acquired a new stake in Ingevity during the fourth quarter valued at approximately $47,000. Finally, Geneos Wealth Management Inc. raised its stake in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.